Hydroponics Market Size & Analysis Report – Global Opportunities & Forecast, 2023-2030
Hydroponics Market generated a revenue of USD 11,691.5 Million in 2022 and is predicted to reach USD 28,333.2 Million in 2030 is forecast to witness a 11.7% CAGR during the forecast period (2023-2030), owing to the advancements in sensing technologies, climatic control, and nutrient film technologies.
To have an edge over the competition by knowing the market dynamics and current trends of “Hydroponics Market”, request for Sample Report here
Major Hydroponics Market Drivers
The major factors propelling the growth of the global hydroponics market are the increasing acceptance of controlled environment agriculture and growing technological enhancements in hydroponics systems. Hydroponic farming provides a higher yield as compared to traditional agricultural practices. It is promoted by governments and non-governmental organizations across the countries owing to the benefits of hydroponic farming in terms of food security. With the increasing population, the demand for food is increasing. As per the Food and Agriculture Organization (FAO) of the United Nations (UN), the population across the world is projected to touch up to 9.1 billion by 2050, thus, increasing the food production by 25% to 70%. This is predicted to drive the need for alternative farming technologies that will offer better yields in less time. Moreover, there has been an increase in public and private funding to bring technological advancement and development in hydroponic systems. All these factors play a significant role in driving the growth of the global hydroponics market.
The rising difficulty in growing crops on soil has increased the demand for hydroponic farming systems. This is also attributed to the growing success rates of the commercial hydroponics industry over the past few years. Companies across the globe are carrying out research & development activities to reduce the cost involved in this technology. The increasing consumption of exotic vegetables and salad is significantly bolstering the growth of the global hydroponics market.
However, setting up hydroponic farm needs high investment, which is forecast to restrain the market growth over the upcoming years. In addition, insufficient awareness about the farming practices and advanced technologies like artificial intelligence needed to predict the outbreak of some diseases to make sure the proper functioning of hydroponics greenhouses will restrain the market size.
Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report
Type Segment Analysis
Liquid hydroponic systems segment is expected to grow at a higher CAGR over the forecast period. Liquid hydroponic systems are cost-effective and efficient as compared to the conventional models. These systems are highly economical as all liquid hydroponic systems operate in a closed mode and reduce the cost of nutrient solution. Liquid hydroponic systems have higher productivity in comparison to aggregate systems. These factors are responsible for the growth of the liquid hydroponic segment in the global hydroponics market. Moreover, with the help of liquid systems, the use of a solid medium is eliminated, making the cultivation process easier. Thus, the process directly supply nutrients to the roots of a plant, expediting the plant growth and maximizing yields, which is estimated to expand the segment’s growth.
Equipment Segment Analysis
Based on the equipment, the market is segmented into HVAC, LED grow light, control systems, irrigation systems, material handling, and others. The HVAC segment is anticipated to grow at a faster CAGR over the forecast period. The HVAC system is responsible for maintaining the ideal temperature inside the facility, dehumidification, and cooling. These systems are prominent for the operation of aeroponic and hydroponic farms as they are well-controlled and highly reliable. It is also cost-effective comparatively to other equipment and utilities. These features are likely to boost the growth of the HVAC segment in the global hydroponics market.
Based on the input type, the market is segmented into nutrients and grow media. The nutrients segment is projected to grow at a higher CAGR during the forecast period. The necessity for external nutrients becomes very high for hydroponic-based crops as they grow crops without the involvement of soil. With the increase in the adoption of soilless growing techniques, most crops are directly grown with the roots in the nutrient medium. These factors are significantly contributing to the growth of the nutrients segment in the global hydroponics market.
Crop Segment Analysis
Based on the crop type, the market is segmented into vegetables, fruits, flowers, and others. The fruits segment is anticipated to grow at a faster CAGR over the forecast period. Fruits can be grown and harvested by hydroponics throughout the year owing to the interior conditions of the indoor and greenhouse farming unit. It is easier for farmers to grow water adaptable fruits such as cantaloupe and watermelon, by using hydroponic methods. These factors play a crucial role in surging the growth of the fruits segment in the global hydroponics market.
In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here
Regional Analysis
Europe region is expected to grow at a higher CAGR over the forecast period. This is mainly due to the growing adoption of vertical farming systems and hydroponic systems in this region. Europe has always been at the most prominent position in the implementation of enhanced techniques in hydroponic smart greenhouse horticulture. The increasing advancement in greenhouse farming in European countries, such as Spain, France, and Netherlands, is likely to grow the market. These factors provide substantial growth to the global hydroponics market in Europe.
Asia Pacific is estimated to hold a larger share over the forecast period, because of the growing adoption of hydroponics systems in China, Australia, and South Korea. The rising number of urban hydroponic farms will expand the regional growth.
Top Market Players
Various notable players operating in the market include AeroFarms, Triton Foodworks, Terra Tech Corp., FREIGHT FARMS, INC., Emirates Hydroponics Farms, Signify Holding, Heliospectra AB, The Scotts Company LLC, Argus Control Systems Limited, and LumiGrow, among others.
Key Developments:
-
- In 2022, Hydroponic Systems International (Spain) HS Evolution Pot would not require packaging or plastic bags for the substrate. It would help the company to expand its product offerings.
- In 2022, InFarm (Germany) merged with IKEA to produce high-quality herbs inside the restaurants of three IKEA stores in Germany. It will assist the company to strengthen its market position.
- In 2022, ScottsMiracle-Gro (US) acquired Luxx Lighting (US) in a transaction that will strengthen The Hawthorne Gardening Company’s industry-leading lighting portfolio. It will help the company to extend its product offerings
- In 2020, Freight Farms announced its partnership with Sodexo, the global leader of facilities management, organizational quality of life services, and integrated food. This partnership aims to bring hydroponics vertical farming technology to universities and schools by growing food onsite at school campuses across the U.S.
- In 2019, LumiGrow announced the launch of smart LED grow lights, BarLight, for the optimal production of cannabis at the lowest cost. It is developed for maximum profits, custom biochemical development, and exceptional cannabis performance. It comes with LumiGrow EasyRail technology to provide seamless vertical rack integration.
Segments covered in the Report:
The global hydroponics market has been segmented on the basis of type, equipment, input type, crop type, and regions. Based on type, the market is segmented into aggregate systems and liquid hydroponic systems. The aggregate systems segment is further segmented into the EBB and flow system, drip system, and wick system. The liquid hydroponic systems segment is further segmented into deep water culture, nutrient-film technique (NFT), and aeroponics. Based on equipment, the market is segmented into HVAC, LED grow light, control systems, irrigation systems, material handling, and others. Based on input type, the market is segmented into nutrients and grow media. The nutrients segment is further segmented into NPK, trace minerals, and others. The grow media segment is further segmented into rockwool, perlite & vermiculite, coco fiber, and others. Based on crop type the market is segmented into vegetables, fruits, flowers, and others. The vegetables segment is further segmented into tomato, leafy greens, cucumber, peppers, and others. Based on region, the global hydroponics market is segmented into North America, Europe, Asia-Pacific, and RoW.
For detailed scope of the “Hydroponics Market” report request a Sample Copy of the report
Key questions answered in this research report:
-
- At what pace is global hydroponics market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in hydroponics market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global hydroponics market?
- What is the Global Hydroponics Market Size in 2019?
- Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
- What are the various equipment areas of global hydroponics market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Revenues (2022) |
USD 11,691.5 Million |
Market Base Year |
2022 |
Market Forecast Period |
2023-2030 |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Type, By Equipment, By Input Type, By Crop Type, By Region |
Regional Coverage | Asia Pacific, Europe, North America, and RoW |
Companies Profiled | AeroFarms, Triton Foodworks, Terra Tech Corp., FREIGHT FARMS, INC., Emirates Hydroponics Farms, Signify Holding, Heliospectra AB, The Scotts Company LLC, Argus Control Systems Limited, LumiGrow, among others; a total of 10 companies covered. |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Hydroponics Market by Type
-
- Aggregate Systems
- The EBB & Flow System
- Drip System
- Wick System
- Liquid Hydroponic Systems
- Deep Water Culture
- Nutrient-Film Technique (NFT)
- Aeroponics
- Aggregate Systems
Global Hydroponics Market by Equipment
-
- HVAC
- LED Grow Light
- Irrigation Systems
- Material Handling
- Control Systems
- Others
Global Hydroponics Market by Input Type
-
- Nutrients
- NPK
- Trace Minerals
- Others
- Grow Media
- Rockwool
- Perlite & Vermiculite
- Coco Fiber
- Others
- Nutrients
Global Hydroponics Market by Crop Type
-
- Vegetables
- Tomato
- Leafy Greens
- Cucumber
- Peppers
- Others
- Fruits
- Flowers
- Others
- Vegetables
Global Hydroponics Market by Region
-
-
North America Hydroponics Market (Option 1: As a part of the free 25% customization)
- By Type
- By Equipment
- By Input Type
- By Crop Type
- US Market All-Up
- Canada Market All-Up
-
Europe Hydroponics Market (Option 2: As a part of the free 25% customization)
- By Type
- By Equipment
- By Input Type
- By Crop Type
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
-
Asia-Pacific Hydroponics Market (Option 3: As a part of the free 25% customization)
- By Type
- By Equipment
- By Input Type
- By Crop Type
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
-
RoW Hydroponics Market (Option 4: As a part of the free 25% customization)
- By Type
- By Equipment
- By Input Type
- By Crop Type
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
-
Major Players Operating the Hydroponics (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
-
- AeroFarms
- Triton Foodworks
- Terra Tech Corp.
- FREIGHT FARMS, INC.
- Emirates Hydroponics Farms
- Signify Holding
- Heliospectra AB
- The Scotts Company LLC
- Argus Control Systems Limited
- LumiGrow
Frequently Asked Question About This Report
Hydroponics Market [UP67A-00-1119]
Hydroponics Market is anticipated to grow at a 11.7% CAGR during the forecast period.
The nutrients segment is projected to grow at a higher CAGR during the forecast period. The necessity for external nutrients becomes very high for hydroponic-based crops as they grow crops without the involvement of soil
The key players operating in the market include AeroFarms, Triton Foodworks, Terra Tech Corp., FREIGHT FARMS, INC., Emirates Hydroponics Farms, Signify Holding, Heliospectra AB, The Scotts Company LLC, Argus Control Systems Limited, and LumiGrow, among others.
Europe region is expected to grow at a higher CAGR over the forecast period. This is mainly due to the growing adoption of vertical farming systems and hydroponic systems in this region.
- Published Date: Jan - 2023
- Report Format: Excel/PPT
- Report Code: UP67A-00-1119
Licensing Options
Single-User License:
The report is used by the purchaser (One Individual) only
Multi-User License:Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only
Corporate License:
Report is shared with unlimited user (employees) of the purchasing corporation only
The report is used by the purchaser (One Individual) only
Multi-User License:Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only
Corporate License:
Report is shared with unlimited user (employees) of the purchasing corporation only
Hydroponics Market Size & Analysis Report – Global Opportunities & Forecast, 2023-2030
$ 4,499.00 – $ 6,649.00